cuz Stevie had it right, playas only love you when theyre playin and traders and TOTUS’ same applies…
DOW down 108 to 8503
S & P down 12 to 911
NAS down 20 to 1796
Gold up 8 to 935
TOTUS has effectively corraled any of the groups that could be providing leadership in the markets right now, regulations come out manyana on the financials, which are pixx poor investments with the toxic BS’ anyway; health cre is under assault no help there, commodities are richocheting off the US Dollar action, retail is a no go the consumer is down for the count, energy is next for TOTUS target no doubt if it rises above 75 the oil execs will be the next to be regulated and that is if we can hold off carbon taxes that long…
the juice off the Fed actions is also gone and bond markets have not reacted as desired (lower 10 yr rates failed to materialize) to the quantitative easing anyway so no help there..
yeah no leadership and the thrill of the short term Bear rally is gone…
Courtesy of NYSenate2009:
Senator Pedro Espada, Jr., President Pro Tempore of the Senate, describes the ruling by State Supreme Court Justice Thomas McNamara.
over and over they said it wouldn’t happen….as it was happening….to give Ben credit he notes in one clip below (as chief of W’s Council of Economic Advisers, before he was head of the Fed) that he is ‘sure’ the banking regulators are monitoring the underwriting of the loans..of course the unregulated brokers were not and most of the regulated banks had lowered standards beyond belief….Greenspan helped create that bubble and Ben failed to address it….
Exit question: When TOTUS puts Larry Summers in there in 2010, will he do any better?
Courtesy of alanhowitzer
Finally a good result in a RUSH to bankruptcy court: Judge Rejects Sale of NHL Phoenix Coyotes…RIMM bigwig D-E-N-I-E-D
The attempt to rush NHL Coyotes sale through bankruptcy proceedings has been stopped by a judge….
A win for Phoenix (especially Glendale) at least temporarily:
…A bankruptcy judge has rejected the proposed sale of the team to Canadian billionaire Jim Balsillie, who would have moved the team to Hamilton, Ontario.
Judge Redfield T. Baum issued a 21-page ruling late Monday afternoon, concluding that the June 29 deadline imposed by Mr. Balsillie did not allow enough time to resolve the complex case.
“Simply put, the court does not think there is sufficient time (14 days) for all of these issues to be fairly presented to the court given that deadline,” the judge wrote.
The ruling is a victory for the NHL, which had argued Mr. Balsillie was using the U.S. Bankruptcy Court to make an end-run around the league’s rules over who owns teams and where they are located.
NHL Deputy Commissioner Bill Daly declined immediate comment Monday, saying the league needed to read the entire opinion before issuing a statement.
The judge’s decision is also a win for the city of Glendale, Ariz., which had spent $183 million to build an arena for the Coyotes and had contended the franchise could not use bankruptcy to evade its lease
So this Balsillie guy is apparently a BIG LOSAH!.. (continues after the break)
ABC TURNS PROGRAMMING OVER TO OBAMA; NEWS TO BE ANCHORED FROM INSIDE WHITE HOUSE
Tue Jun 16 2009 08:45:10 ET
On the night of June 24, the media and government become one, when ABC turns its programming over to President Obama and White House officials to push government run health care — a move that has ignited an ethical firestorm!
Highlights on the agenda:
ABCNEWS anchor Charlie Gibson will deliver WORLD NEWS from the Blue Room of the White House.
The network plans a primetime special — ‘Prescription for America’ — originating from the East Room, exclude opposing voices on the debate.
Late Monday night, Republican National Committee Chief of Staff Ken McKay fired off a complaint to the head of ABCNEWS:
Dear Mr. Westin:
As the national debate on health care reform intensifies, I am deeply concerned and disappointed with ABC’s astonishing decision to exclude opposing voices on this critical issue on June 24, 2009. Next Wednesday, ABC News will air a primetime health care reform “town hall” at the White House with President Barack Obama. In addition, according to an ABC News report, GOOD MORNING AMERICA, WORLD NEWS, NIGHTLINE and ABC’s web news “will all feature special programming on the president’s health care agenda.” This does not include the promotion, over the next 9 days, the president’s health care agenda will receive on ABC News programming.
Today, the Republican National Committee requested an opportunity to add our Party’s views to those of the President’s to ensure that all sides of the health care reform debate are presented. Our request was rejected. I believe that the President should have the ability to speak directly to the America people. However, I find it outrageous that ABC would prohibit our Party’s opposing thoughts and ideas from this national debate, which affects millions of ABC viewers.
In the absence of opposition, I am concerned this event will become a glorified infomercial to promote the Democrat agenda. If that is the case, this primetime infomercial should be paid for out of the DNC coffers. President Obama does not hold a monopoly on health care reform ideas or on free airtime. The President has stated time and time again that he wants a bipartisan debate. Therefore, the Republican Party should be included in this primetime event, or the DNC should pay for your airtime.
Republican National Committee
Chief of Staff
ABCNEWS Senior Vice President Kerry Smith on Tuesday responded to the RNC complaint, saying it contained 'false premises':
And you KNOW there is not a newspaper editor alive today who would do what they did to Ford right? WaPo reports WH said No to CA bailout…
No OBAMA TO CA DROP DEAD headlines will appear, can you imagine? BWAAAAHAAAAA!
I agree with the NO. NO NO NO. Like a parent to a child, No California you cannot have your candy before your dinner…
No California you cannot have these ever expanding social services programs in this economy..
No California you cannot regulate away business and capital income and then come to the rest of America for a bailout…
NO NO NO